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Locational electricity pricing could save £30 billion – or £1,000 per household – by 2035, according to a new study from Energy Systems Catapult and Octopus Energy. The report said the current market arrangements were designed for an energy system dominated by large, centralised generators and “no longer makes sense”, resulting in a “growing tension between the wholesale market and physical reality”.
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Ofgem is pressing ahead with proposals to shorten the price cap period from six months to three to reduce the time lag between changes in wholesale energy prices and their reflection in the cap. The regulator said its minded-to decision, which is subject to consultation, would allow suppliers to more accurately predict how much energy they need to purchase, reducing the risk of further failures.
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Ofgem has altered the parameters for its Market Stabilisation Charge – a temporary measure introduced in April to limit suppliers’ hedging losses if wholesale prices fall substantially – to make it stronger and more easily triggered. The regulator said the adjustments will make the charge “more robust” in the face of increased hedging risks following Russia’s invasion of Ukraine.
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Welsh Water has announced pre-tax profits of £6.6 million for the year ending 31 March 2012 and pledged an extra £100 million of investment over the next three years.
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The Energy Bill terminates the rule of the market over energy policy and puts the government firmly back in control, writes Roger Barnard
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Recent changes of government in Europe and interventions in the energy market by politicians are destabilising confidence and choking off long-term investment, warns Nigel Hawkins.
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If CCS is to be commercialised, we need coherent, clear business rules to govern the operation of integrated networks, argues Clive Ashworth.
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Wave and tidal projects are crossing the gulf between start-ups and global businesses. Janet Wood and Brendan Coyne look at three projects that could hit the big time soon.
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